I hope the light at the end of the tunnel is not the train.

Posted in Debt Help
Posted by Brian McIlmoyle, B.Sc., CIRP - LIT

hope-its-not-a-trainEveryone deals with financial troubles at some point in their life. Maybe you have lost your job, became ill or been injured, suffered the separation of a long term relationship or just did not manage your money well. The reasons are many.

But if you are facing the prospects of not being able to pay your bills you have to do something now.

I meet with people every day who have had some event occur that tipped them into financial trouble. Many of them just carried on as if nothing had happened hoping that “everything will work out” Usually they use credit to cover day to day living expenses until things get back on track. Sometimes this works out, all too often it does not and the result is an big problem. Mounting debt, collection calls, legal action are all possible results of the accumulation of debt as a result of a “life changing event” such as those mentioned above.

The most important thing to do if you have had some event affect your finances is make a plan. When your future is at stake don’t “hope” everything will work out, you have to take action. Create a budget, contact your creditors and try to make more manageable payment arrangements before you can’t make the payments.

You have a better chance to get through the trouble as long as you take control early and plan, you may have to make some hard choices but better you make them than having those choices forced on you.

Finally, if you can’t get things under control get some help. Credit Counseling, a proposal to creditors or even bankruptcy may be viable options to solve your problems.

If you think you need some help contact our professional bankruptcy trustees today. We can help you make sure that the light at the end of the tunnel is your freedom from debt.